January 8, 2026
Torys has been named in a Law.com article showcasing some of the most notable deals in 2025 for our work advising Anglo American in a merger valued at US$53 billion.
On September 9, 2025, Anglo American and Teck announced an agreement to combine the two companies in a merger of equals to form the Anglo Teck group, a global critical minerals champion and top five global copper producer, headquartered in Canada.
The merger will be implemented by way of a plan of arrangement of Teck under the Canada Business Corporations Act. Anglo American will issue 1.3301 ordinary shares (or, in the case of electing eligible Canadian Teck shareholders, 1.3301 exchangeable shares) to existing shareholders of Teck in exchange for each outstanding class A common share and class B subordinate voting share of Teck, consistent with a merger of equals at market.
The transaction is expected to close in the winter of 2026/27, subject to necessary approvals.
You can read more about our M&A work on our practice page.
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